Indexable cutting inserts for cutting tools include, for example, cutting inserts made of carbide, ceramic, coated carbide, coated ceramic, or other hard materials. Cutting inserts generally have a unitary structure and one or more cutting edges located at various corners or around peripheral edges of the inserts. Indexable cutting inserts are mechanically secured to a tool holder, but the inserts are adjustable and removable in relation to the tool holder. Indexable cutting inserts may be readily re-positioned (i.e., indexed) to present a new cutting edge to engage a workpiece, or indexable cutting inserts may be replaced in a tool holder when the cutting edges dull or fracture, for example. In this manner, indexable insert cutting tools are modular cutting tool assemblies that include at least one cutting insert and a tool holder.
Indexable insert cutting tool systems comprising a tool holder and one or more replaceable and/or indexable cutting inserts are generally more economical than unitary cutting tools. This is so because indexable insert cutting tool systems allow for the indexing and replacement of worn and/or damaged cutting edges/surfaces, whereas unitary cutting tools require scrapping the entire cutting tool when worn out or damaged. However, for rotary cutting tools that require complex cutting edge configurations along the longitudinal axis of the tool, such as, for example, milling and other rotary machining tools, unitary cutting tools are less complex to design and manufacture than indexable insert cutting tool systems. This is so because the cutting edge configuration of an indexable insert cutting tool system must be formed by an assembly of separate cutting inserts as opposed to a continuous and unitary piece of shaped material.